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CITICORP PROVIDES OLYMPIA & YORK INFORMATION IN 10-Q FILING

 CITICORP PROVIDES OLYMPIA & YORK INFORMATION IN 10-Q FILING
 NEW YORK, May 15 /PRNewswire/ -- Citicorp (NYSE: CCI) in its first quarter 10-Q to be filed with the Securities and Exchange Commission today provided the following information on its exposure to Olympia & York, the Canadian real estate company:
 Olympia & York (O&Y) and certain of its real estate units commenced legal proceedings for reorganization in Canada and the U.S. on May 14, 1992. Risks related to this exposure were taken into consideration in write-off and reserve decisions in the first quarter.
 Citicorp's total exposure, including derivatives, at March 31, 1992 to O&Y and all of its real estate units was $380 million, of which $279 million is on a cash basis, after the effect of a $100 million write-off taken in the first quarter. The foregoing does not include direct loans to subsidiaries of O&Y engaged in non-real estate activities and minority investees of O&Y.
 -0- 5/15/92
 /CONTACT: Amy Dates of Citicorp, 212-559-7608/
 (CCI) CO: Citicorp; Olympia & York ST: New York IN: FIN SU:


AH -- NY074 -- 0813 05/15/92 14:21 EDT
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Publication:PR Newswire
Date:May 15, 1992
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